Des Moines Flex Space
535 Southwest 7th Street, Des Moines, IA 50309
For Sale
$15,475,954
Portfolio of flexible office, warehouse, and showroom spaces for sale.
Property Size229,164 SF
Price / SF$67.53
Days on Market231
Property Features for 535 Southwest 7th Street
General Information
Standard status
Size
Property subtype
Site & Location
Neighborhood
Listing Agency:
CBRE
Listed By:
Bill Wright · License IA S33231000
(515) 210-3050
Source:
Cbre
Added: Mar 25
Changed: Aug 25
Last Checked: Aug 14 at 7:23AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of CBRE
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Investment Insights
Based on property information with market context.
This portfolio offers a unique opportunity to own a collection of small bay format buildings suitable for office, warehouse, and showroom purposes. The strategic location bridges suburban access with urban amenities. The portfolio benefits from its position along multiple mass transit bus routes, providing convenient and frequent access. Nearby amenities include hotels with conference facilities, restaurants, retail options, medical facilities, and the Court Avenue Entertainment District. The opportunity to own this portfolio is almost singular in nature as there exists significant barriers to development of similar small bay product near to the Central Business District. The property contains 229164 square feet.
Key Highlights
- Strategic location bridging suburban access and urban amenities.
- Significant barriers to entry for similar small bay product development.
- Optimum flexibility for office, warehouse, and showroom needs due to small bay format.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$1,284,089
Cap Rate
8.30%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$25,681,780
$25.7M
Cap Rate 7%
$18,344,129
$18.3M
Cap Rate 9%
$14,267,656
$14.3M
Market Conditions
NOI Build-Up for 229,164 SF
Gross rent
$2.14M $9.36/SF
− Vacancy
−$169.5K −$0.74/SF
EGI
$1.98M $8.62/SF
− OpEx
−$691.4K −$3.02/SF
NOI
$1.28M $5.60/SF
Area
Des Moines, IA
Vacancy
7.90%
Lease Rate
$9.36 /SF/Yr
Expense Ratio
35.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$25,681,780
Cap Rate 7%
$18,344,129
Cap Rate 9%
$14,267,656
Alternative Uses
Best Use
Flex RnD
$18.34M
$16.05M – $21.40M
NOI $1,284,089 @ 7.0% cap · market cap 8.30%
Second Best
Industrial
$13.42M
$11.75M – $15.66M
NOI $939,639 @ 7.0% cap · market cap 6.07%
Theoretical Best
Office A
$56.44M
$49.38M – $65.85M
NOI $3,950,714 @ 7.0% cap · market cap 25.53%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
1,547
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 50309, IA
9,532
Population
7,562
Households
1.3
Avg Household Size
30
Median Age
67%
College-Educated
96%
High-School Grad
2.7 sq mi
ZIP Area
3,530
Density / Sq Mi
$57,974
Median Household Income
$52,775
Median Earnings
$1,166
Median Rent
$286,900
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Average Price Trend$/SF for Flex space in Des Moines, IA
Properties on Market for Flex space in Des Moines
Vacancy Rate% for Industrial in Des Moines, IA
Similar Off Market Nearby
- Devine Tastings by OneHandUP! — 112 11th St APT 602, Des Moines, IA 50309
Frequently Asked Questions
What type of property is this?
Flex space - Portfolio of flexible office, warehouse, and showroom spaces for sale.
Where is this flex space located?
The property is located at 535 Southwest 7th Street Des Moines, IA.
What is the asking price?
The asking price for this property is $15,475,954.
What are key features of this property?
This property features: Strategic location bridging suburban access and urban amenities.; Significant barriers to entry for similar small bay product development.; Optimum flexibility for office, warehouse, and showroom needs due to small bay format.
